Big FX intake boost Jamaican$ – Monday

Trading in the foreign exchange market resulted in the Jamaican dollar gaining in value on Monday as inflows were much higher than outflows by US$15 million, more than making up for the short fall on Friday. The market closed with dealers buying the equivalent of US$59,647,969 and selling US$44,608,557, in contrast to US$34,669,827 purchased and US$46,733,831 sold on Friday.
In US dollars trading, dealers bought US$55,109,704 compared to US$31,347,006 on Friday, as the buying rate for the US dollar rose 1 cent to end at $121.35. A total of US$42,655,499 was sold versus US$45,254,299 on Friday, the selling rate fell by 8 cents to $121.96. The Canadian dollar buying rate rose by 24 cents to end at $90.15 with dealers buying C$1,930,677 and selling C$980,684, at an average rate that dipped by 23 cents to $92.44. The rate for buying the British Pound remained unchanged at $170.45 for the purchase of £1,966,758, while £629,504 was sold, as the rate declined by 96 cents to $171.94. At the end of trading, the selling rate for Euro, dropped 61 cents to close at J$138.46, from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$135.60 for a decline of 62 cents from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$341,484 being bought, while US$322,274 was sold.
Highs & Lows| Notable changes to the highest and lowest rates the currencies traded at on Monday are, a big fall of $18.22 in the lowest selling rate of the US dollar to $99.78, the lowest buying rate of the Canadian dollar rose by $1.04 to $74.04. The highest buying rate for the British Pound dropped by $3 to $173.80, the lowest buying rate lost $1.83 to $138.44 and the highest selling rate climbed by $1.88 to end at $180.14.